In a statement, the company said its overall asset growth came in at 18 percent and disbursements in the focus area of retail rose 12 percent in the reporting quarter.
The retail book growth stood at 28 percent and by September 30, 2024, the overall total was Rs. 88,795 crores.
Net interest margin and fees were flat at 10.86 percent, the statement said.
Its managing director and chief executive Sudipta Roy said it faced challenges in the second quarter due to multiple sectoral headwinds and volatile macro environment.
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“We expect the sector challenges to continue for the next two quarters, and as such, we can dynamically refocus our business objectives in the next quarter, prioritizing a positive credit outcome on assets under management growth,” he added.
The CEO added that the company is optimistic about its strategy going forward, and will remain focused on our overall transformation agenda and granular implementation, despite ongoing sector challenges.
On the asset quality front, the gross stage 3 asset ratio improved to 3.19 per cent at the end of the quarter from 3.27 per cent in the year-ago period, while credit cost remained stable at 2.59 per cent.
The company was able to reduce fund expenses from 0.05 percent to 7.8 percent on proactive asset-liability management.
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